URBN pushes through key resistance level


Urban Outfitters (URBN) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
URBN pushes through key resistance level
URBN closes higher for the 5th day in a row
URBN pushes through previous session high
URBN rises to highest close since Inception
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 5th day in a row, URBN finished the week 7.98% higher at 48.28 after gaining $0.74 (1.56%) today on high volume. Today's closing price of 48.28 marks the highest close since Inception. Closing above Thursday's high at 47.67, Urban Outfitters confirms its breakout through the previous session's high having traded $1.27 above it intraday.

Daily chart for URBN
Volatility

Friday's trading range was $1.83 (3.84%), that's above last trading month's daily average range of $1.37. Weekly volatility is also higher, being way above the markets average with the monthly volatility being above average.

Support/Resistance

Breaking through the key resistance level at 48.24 today, it is now likely to act as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Urban Outfitters
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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